With this plan we set up two Right of Occupancy Wills. When the first spouse dies his or her half goes to the children but the survivor is given the Right of Occupancy so he or she is totally protected. The capital passes to the survivor. If the survivor goes into care, half of the house is protected. The disadvantages are that the widow only has a Right of Occupancy which is not as good as being a Trustee in a Trust. The deceased's capital passes to the survivor and is therefore vulnerable for his or her care costs. On the first death the Capital Gains Tax exemption on half of the property is lost.
The cost for a couple is £310 including vat.(Normal Market Cost £900)This includes the severance of tenancy if required.